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For nearly 175 years, people have worked with New York Life to protect their
families and futures. We believe in the importance of human guidance and in
trusted relationships built on being there when our customers need us most.

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How do I know what my living expenses will be when I retire?

Our living expenses calculator will help you compare your current expenses against what you’ve planned for in retirement. For example, you may want to travel more, which would increase your expenses. Or you could pay off your mortgage, which would decrease your expenses. Our calculator will help determine if your current retirement savings plan will enable you to have the quality of retirement you want.

The results and explanations generated by this calculator may vary due to user input and assumptions. For a more detailed financial analysis, complete the Contact an Agent form on the right and a local New York Life agent will contact you.

The results and explanations generated by this calculator may vary due to user input and assumptions. New York Life Insurance Company does not guarantee the accuracy of the calculators, results, explanations, nor applicability to your specific situation. Calculator results are hypothetical, based on assumptions which you choose. Results are approximate and do not account for influential factors such as the way you manage your investments in the future, taxes and investment management fees and expenses. We recommend that you use this calculator as a guideline only and you ultimately seek the guidance of an experienced professional.

Assumptions

Monthly or annual figures?

Itemized Income

Wages, salary and tips ($)

Pre-retirement

Post-retirement

Alimony, child support (received) ($)

Pre-retirement

Post-retirement

Dividends from stocks, etc. ($)

Pre-retirement

Post-retirement

Interest on savings accounts, CDs, etc. ($)

Pre-retirement

Post-retirement

Social security benefits ($)

Pre-retirement

Post-retirement

Pensions ($)

Pre-retirement

Post-retirement

Other income ($)

Pre-retirement

Post-retirement

Itemized Expenses

Mortgage payment or rent ($)

Pre-retirement

Post-retirement

Vacation home (mortgage) ($)

Pre-retirement

Post-retirement

Automobile loan(s) ($)

Pre-retirement

Post-retirement

Personal loan(s) ($)

Pre-retirement

Post-retirement

Charge accounts ($)

Pre-retirement

Post-retirement

Federal income taxes ($)

Pre-retirement

Post-retirement

State income taxes ($)

Pre-retirement

Post-retirement

FICA (social security taxes) ($)

Pre-retirement

Post-retirement

Real estate taxes ($)

Pre-retirement

Post-retirement

Other taxes ($)

Pre-retirement

Post-retirement

Utilities ($)

Pre-retirement

Post-retirement

Household repairs and maintenance ($)

Pre-retirement

Post-retirement

Food ($)

Pre-retirement

Post-retirement

Clothing and laundry ($)

Pre-retirement

Post-retirement

Educational expenses ($)

Pre-retirement

Post-retirement

Child care ($)

Pre-retirement

Post-retirement

Automobile expenses (gas, repairs, etc.) ($)

Pre-retirement

Post-retirement

Other transportation expenses ($)

Pre-retirement

Post-retirement

Life insurance premiums ($)

Pre-retirement

Post-retirement

Homeowners (renters) insurance ($)

Pre-retirement

Post-retirement

Automobile insurance ($)

Pre-retirement

Post-retirement

Medical, dental and disability insurance ($)

Pre-retirement

Post-retirement

Entertainment and dining ($)

Pre-retirement

Post-retirement

Recreation and travel ($)

Pre-retirement

Post-retirement

Club dues ($)

Pre-retirement

Post-retirement

Hobbies ($)

Pre-retirement

Post-retirement

Gifts ($)

Pre-retirement

Post-retirement

Major home improvements and furnishings ($)

Pre-retirement

Post-retirement

Professional services ($)

Pre-retirement

Post-retirement

Charitable contributions ($)

Pre-retirement

Post-retirement

Other and miscellaneous expenses ($)

Pre-retirement

Post-retirement

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